CURRENT PROBLEMS

Evening Post, Volume CI, Issue 16, 19 January 1921, Page 6

CURRENT PROBLEMS

RESTORATION OP COMMERCE

SPEECH BY, SIR JOSEPH WARD.

(UNHID MUSS ASSOCIATION.—COPIRISHT.)

(ACSTKAMAH - ME* ZBAMKD CABLB ASSOCIATION.)

(Received January 19, 9 a.m.)

LONDON, 18th Januaty.

Sir Joseph Ward, in an address at an Australian Natives' luncheon, said thafc the' countries overseas were deeply interested in the tremendous difficulties which Britain was passing through. It

was imperative to aiTange the world's exchanges ; it was no use preaching in favour of an increase of exports if the exporters were unable to get money for their goodsf '. The exchange' conditions, so far as the overseas countries were concerned, could not be rectified unless the authorities made a new position foe financial working. Articles which -the Dominions produced were of the first necessity in order to resuscitate tho buginess of Europe. Some system should be provided to enable the Continental countries to pay for these products. They could not get British •ov -overseas trade right until the trade of the Continent was restored. They ought not "to allow light or idle criticism to jeopardise the important part the League o£ Nations might play in preventing the recurrence of war, and should agitate to bring every country within its scope, even Russia, when Bolshevism, that deadly foe to labour, had spent its force. The fear of the future led to big naval programmes, with the attendant overburdening of the taxpayers. Tl)e sooner the Government within Europe made up their minds to discontinue tne control of commerce, and Britain realised that 'she could not maintain fictitious values and decided to cut. her losseß, the better. It was also necessary for overseas welfare to stop the strangulation of manufacturers by excess profits.